SECAUCUS, NJ—The demands of e-commerce retailers are causing many industrial property owners in the Garden State to upgrade their warehouse properties into high-tech shipping centers.

In addition to improvements to industrial properties in the Meadowlands area and elsewhere in the state, e-commerce is also fueling growth and in particular large lease deals in the industrial real estate sector.

Earlier this year, online grocer Peapod LLC secured nearly $35 million in state incentives in connection with its 345,000-square-foot deal in Jersey City for a distribution site. Also, online consignment retailer The RealReal leased 129,000 square feet in Secaucus and Rose Brand, one of North America's largest theatrical fabric companies, expanded its presence, in Secaucus, according to The Record.

Further evidence of e-commerce's impact on the industrial market, online giant Amazon occupies approximately 1.4 million square feet in Robbinsville and Avenel.

CBRE executive vice president William Waxman says e-commerce "is rapidly changing the face" of the state's industrial real estate market, which he adds "is at an inflection point due to the demands" of Internet sales.

"Every stakeholder needs to be nimble in order to keep up," Waxman adds. "The bottom line is consumers want things fast." See story in The Record.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.